Mauritius' business confidence ticks up in Q2, remains low

The Mauritius Chamber of Commerce and Industry's quarterly confidence index rose to 89.8 points from 87.9 points in the first quarter of this year.

Chamber of Commerce economist, Renganaden Padayachy, said that while the index has risen for three consecutive quarters, it remained low, and could impact future demand and investment negatively.

"We need over the coming months to keep the momentum for business confidence if we want economic growth to bounce back this year," he added.

Mauritius' economy is expected to grow 3.8 percent this year, lower than an earlier forecast of 4.1 percent in March, according to Statistics Mauritius.

Mauritius, with an annual gross domestic product of more than $10 billion, has been hit hard by the global economic slowdown and particularly by a drop in European tourists, affecting tourism - one of the mainstays of the economy.